The analysis of factors affecting investment choices of households in turkey with multinomial logit model
International Research Journal of Finance and Economics, cilt.40, ss.186-202, 2010 (Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 40
- Basım Tarihi: 2010
- Dergi Adı: International Research Journal of Finance and Economics
- Derginin Tarandığı İndeksler: Scopus
- Sayfa Sayıları: ss.186-202
- Anahtar Kelimeler: Households, Investment choices, Multinomial logit model, Turkey
- Galatasaray Üniversitesi Adresli: Hayır
Özet
Households don't spend all of their income but save some of them for various purposes. One of these purposes is to invest. The choice of investment instruments are affected not only by financial factors but also by socio-psychological factors. Revealing how individuals determine their investment choices in a world in which investment instruments are very diversified, will be useful to both portfolio managers and economic policy makers. In this paper, investment choices are classified into seven categories, and elements affecting investment choices are determined by analyzing with multinomial logit model the data obtained from 1300 public surveys conducted in the city of İstanbul in Turkey that can be accepted as a small sample of Turkey. The results show that investment choices of households are affected not only by economic factors but also by social and personal factors. © EuroJournals Publishing, Inc. 2010.